Further re Placing

RNS Number : 1063I

Kenmare Resources PLC

20 July 2012

 



20 July, 2012

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL.

KENMARE RESOURCES PLC ("Kenmare" or "the Company")

COMPLETION OF PLACING

Kenmare is pleased to announce the successful completion of the placing announced yesterday (the "Placing").

120,000,000 new ordinary shares of  €0.06 each (the "Placing Shares") have been placed by RBC, Davy, Canaccord and Mirabaud at a price of Stg32p  per Placing Share, raising proceeds of £38.4 million (approximately US$60 million) (before expenses). The Placing Shares being issued represent approximately 5 per cent. of the issued ordinary share capital of the Company prior to the Placing.

Applications have been made for the Placing Shares to be admitted to the premium segment of the Official List of the Financial Services Authority and the Official List of the Irish Stock Exchange and to trading on the Main Market of the London Stock Exchange and the Main Securities Market of the Irish Stock Exchange (together, "Admission"). It is expected that Admission will take place at 8.00 am on 25 July 2012 at which time dealings in the Placing Shares will commence.

The Placing Shares, when issued, will be fully paid and will rank pari passu in all respects with the existing ordinary shares in the share capital of the Company including the right to receive all dividends and other distributions declared, made or paid after the date of issue of the Placing Shares.

 For further information, please contact:

Kenmare Resources plc.

Michael Carvill,  Managing Director

Tel: [phone]

Mob: + 353 87 674 0110

Tony McCluskey,  Financial Director                          Jacob Deysel,  Operations Director

Tel: [phone]                                                         Tel: [phone]

Mob: + 353 87 674 0346                                                 Mob: [phone]

RBC Europe Limited                                                    J&E Davy

Matthew Coakes/Stephen Foss                                      Eugenée Mulhern/Anthony Farrell

Tel: [phone]                                                    Tel: + 353 1 679 7788

Canaccord  Genuity Limited                                 Mirabaud Securities LLP

Rob Collins/Andrew Chubb                                            Tel: + 44 207 321 2508

Tel: + 44 207 523 8000                                                   Tel: Tel: + 44 207 321 2508

Murray Consultants                                                    Tavistock Communication

Jim Milton/Jonathan McDade                                       Mike Bartlett/ Jos Simson

Tel: [phone]                                                        Tel: [phone]

Mob: [phone]                                                  Mob: [phone]

This announcement and the information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia), Australia, Canada, Japan or any other state or jurisdiction into which the same would be unlawful. This Announcement (including the Appendix) is for information purposes only and shall not constitute an offer to buy, sell, issue, or acquire, or the solicitation of an offer to buy, sell, issue, or acquire any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any failure to comply with these restrictions may constitute a violation of the securities laws of such jurisdictions.

This announcement does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, any securities in the United States, Australia, Canada or Japan or any other jurisdiction in which such offer, solicitation or sale would be unlawful. In particular, the Placing Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered, sold or transferred, directly or indirectly, within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the securities laws of any state or other jurisdiction of the United States. No public offering of the Placing Shares is being made in the United States, Australia, Canada or Japan.

This announcement has been issued by and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by any of the Bookrunners or by any of their Affiliates or agents as to, or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

RBC Europe Limited (trading as 'RBC Capital Markets') which is authorised and regulated in the United Kingdom by the FSA, is acting for the Company and for no-one else in connection with the Placing and will not be responsible to any person other than the Company for providing the protections afforded to its clients or for providing advice to any other person in relation to the Placing or any other matter referred to in this announcement.

Davy which is authorised and regulated in Ireland by the Central Bank of Ireland, is acting for the Company and for no-one else in connection with the Placing and will not be responsible to any person other than the Company for providing the protections afforded to its clients or for providing advice to any other person in relation to the Placing or any other matter referred to in this announcement.

Canaccord Genuity which is authorised and regulated in the United Kingdom by the FSA, is acting for the Company and for no-one else in connection with the Placing and will not be responsible to any person other than the Company for providing the protections afforded to its clients or for providing advice to any other person in relation to the Placing or any other matter referred to in this announcement.

Mirabaud Securities which is authorised and regulated in the United Kingdom by the FSA, is acting for the Company and for no-one else in connection with the Placing and will not be responsible to any person other than the Company for providing the protections afforded to its clients or for providing advice to any other person in relation to the Placing or any other matter referred to in this announcement.

The price of shares and the income from them may go down as well as up and investors may not get back the full amount invested on disposal of the shares. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser.

The Placing Shares to be issued pursuant to the Placing will not be admitted to trading on any stock exchanges other than the London Stock Exchange and the Irish Stock Exchange.

Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this announcement.

Defined terms used in this announcement have, unless otherwise stated, the same meaning as in the announcement issued by Kenmare in connection with the Placing dated 19 July, 2012.

 

END

 

 

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